BTCUSD | The Moment of Truth

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We are near the extreme point on Weekly chart. Price is in descending channel and currently is testing the Mid Line of the formation.

If we have a confirmed breakout of this line we can go to the Ichi Cloud to test it.

If we get rejection here that can be a good leg down and retest of 6.600$ and then 5.800$. However for the bearish scenario I would requere the breakout of the 6.900$ horizontal support.

The 6.900$ horizontal is strong and treat the price bullish while we are above this level. But once this level is lost, then down we go.

Thank you for reading this idea! Hope it's been useful to you and some of us will turn it into profitable!

Remember this analysis is not 100% accurate. No single analysis is. To make a decision follow your own thoughts.

The information given is not a Financial Advice.